Piper Jaffray bullish on Crispr Therapeutics after SITC data
Piper Jaffray analyst Edward Tenthoff notes that Crispr Therapeutics presented a poster at SITC that showed the "impressive" capability of CRISPR/Cas9 to now introduce up to 7 edits to produce an allogeneic CART. The analyst believes the number of edits, unrivaled by other editing modalities, and strong efficiency with 50%-70% rates underscores the robust capabilities offered by CRISPR/Cas9 editing and could diversify the company's CAR-T pipeline in a competitive field. SITC data revealed quadruple-edited cells more potently inhibited tumor growth in vivo versus dual edits, he adds. Tenthoff points out that Crispr Therapeutics expects to initiate a Phase I study on CD19 CAR-T CTX110 in 1H19, with BCMA and CD70 CAR-Ts to follow. First-in-man CTX001 data next year could lead to accelerated approvals by 2021, he contended. The analyst reiterates an Overweight rating and $75 price target on the shares.